Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $12,793.03 (+4.53%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $395.64 (+3.75%), while XRP has increased by 3.38% and is now trading at $0.256.
FxPro's team of analysts say:
"Bitcoin keeps growing, reaching $13,200 at times, however, it has been unable to stay above this level and has fallen to $12,800. As a result, the reference cryptocurrency has posted an increase of 4.5% over the last 24 hours as well as a slight increase of 13% in trading volumes. At the same time, the crypto's dominance index has risen to 61.1%. However, investors seem to be increasingly interested in altcoins. If yesterday it was Bitcoin the crypto that led the growth, today the altcoins on the top 10 are already supporting it with an increase of around 3-12%.
This latest episode of Bitcoin growth is associated with PayPal's official statement about the integration of the possibility for its users to buy and sell cryptos, including Bitcoin. After the news was released, Bitcoin exceeded its 16-month high.
In addition, 150 million Tether tokens (USDT) were issued just a few hours before the PayPal news was known. The increased issuance of the leading stablecoin is often associated with market manipulation, however, in this case it could be a response to increased demand. The tokens have been distributed among Binance, Bitfinex and Huobi. Bitcoin's ability to stay above $12,000 could be a signal for future purchases."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $388,097,357,539.
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